Category Archives: Bookkeeping

For instance, the Vietnamese government promotes outsourcing by offering nearly 98% tariff reduction for firms in ASEAN and FTA countries under Regional Comprehensive Economic Partnership (RCEP). For example, the average annual salary of a customer service representative in Mexico (USD 7,455) is lower than in countries like the USA (USD 35,600) and the UK (USD […]

But most importantly, you’ll have a happier you and a happier executive team of your startup. Finance Strategists has an advertising relationship with some of the companies included on this website. We may earn a commission when you click on a link or make a purchase through the links on our site. All of our […]

Furthermore, it is essential to clearly define what constitutes a project expense to avoid inaccuracies in your calculations. It’s important to ensure that all expenses are correctly recorded and categorized to provide an accurate representation of the project’s financial status. Any discrepancies or omissions in the data input can lead to misleading burn rate calculations. How do […]

Once they have all the required information, they’ll start cleanup, which include categorizing transactions and reconciling accounts. Cleanup takes about 30 days from the time they receive everything they need from you. QuickBooks Live Bookkeeping offers online bookkeeping services that connect small businesses with trusted, QuickBooks-certified virtual bookkeepers. Depending on the service you choose, a […]

If you manage many projects at once, strong retainage management is essential. It will ensure you have capital in the event that a customer withholds money owed. Here are six aspects of the industry that make effective construction bookkeeping vital. This can make it difficult to track revenue and costs on a single project, let […]

CPAs and similar organizations follow the best practices in the industry. They adhere to most standard procedures to remain high-quality service providers. For small businesses that already need to cover both functions, this can make a big difference in overhead costs. For teams that need just the bare essentials, Merritt can provide the foundation for […]

It is one thing to know outsourcing accounting services is a smart move. In the fast-paced field of IT, we offer specialized accounting services that recognize the unique challenges and opportunities within this sector. Our team helps you manage project-based revenue, R&D expenses, and the intricacies of IT-related taxation, allowing you to innovate and grow. […]

Debits and credits should always equal how to calculate net sales each other so that the books are in balance. Whether you do the bookkeeping yourself or hire someone to do it, certain elements are fundamental to properly maintaining the books. Some of these elements are done more regularly than others to ensure that the […]

When considering whether to outsource this function, the time and resources required to complete essential payroll tasks often weigh heavily in the decision-making process. By outsourcing payroll to a reputable provider, owners may have more time to focus on what matters most. In many cases, they’ll also have a variety of options available to maximize […]

Begin by listing all accounts along with their adjusted balances in a trial balance format. Next, make sure that the total debits equal the total credits, thereby confirming that the adjusted trial balance is in balance. Preparing an adjusted trial balance begins with gathering all necessary financial information. This involves ensuring that all journal entries […]